May 10th, 2017
During the last years, Asian Billionaires have made powerful investments in the most flourishing financial capital of the world, London. Attracting millionaires but also billionaires from all over the world, London has turned into a hot spot for investors, especially for those who could afford buying expensive assets throughout the city. An increased interest coming from China was mainly represented by housing and art, so Asian Billionaires that were having businesses settled in China, have managed to buy expensive pieces of art from auction sites such as Sotheby’s and also ultra expensive mansions. This phenomenon has also influenced stock markets and banking which is another strong point of London’s economy. Where there is demand there will also be offer and this is the example of the Chinese Billionaire Wang Jianlin who bought last year a massive 10 bedroom house with an astonishing price of 80 million £. Besides Asian Billionaires who are constant pushing money in the economy of the UK, London has experienced huge investments also from rich people coming from Middle East and other Arab countries. Probably the first and most famous Arab billionaire of our modern times is Mohamed Al Fayed who used to run the luxury concept store Harrods in London, Fulham football club and many other properties that made his fortune rise to nearly 1,2 billion £.
Mohamed Bin Issa Al Jaber, the owner of MBI international holding group has settled his company’s headquarters in London and runs a massive empire estimated at 6 billion £. In the last year, the former prime minister of Qatar, Sheikh Hamad bin Jassim Al Thani has spent hundreds of millions of pounds on properties in London including an impressive palace close to Hyde Park. All of these investments have brought massive income for the Britain’s economical growth and have strengthened international relations. Brexit may have a negative impact for the future investors in the first place. Except tourism that was mainly represented by European travelers, foreign investments may lose ground, and the economy of London in the first place is going to drop. A less interest for London will lead to lower prices for properties for example as the booming house market in London was exceeding dramatically the level of “common sense” in the past years. Rent and prices may drop but also the value of billionaire’s properties will have the same faith. After all business is just a matter of selling and buying when the time is right, but for sure Brexit can be seen as a cold rain in the middle of summer.